Stifel Nicolaus Lowers PENN Entertainment (NASDAQ:PENN) Price Target to $19.00

PENN Entertainment (NASDAQ:PENN) had its price target lowered by analysts at Stifel Nicolaus from $22.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 13.28% from the stock’s previous close.

Several other research firms have also recently issued reports on PENN. Benchmark restated a “hold” rating on shares of PENN Entertainment in a research report on Monday, March 3rd. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. Jefferies Financial Group raised their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Finally, Macquarie reaffirmed an “outperform” rating and set a $26.00 target price on shares of PENN Entertainment in a research note on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment has a consensus rating of “Hold” and a consensus price target of $23.56.

PENN Entertainment Price Performance

NASDAQ:PENN traded down $0.49 during trading hours on Tuesday, reaching $16.77. 642,383 shares of the company were exchanged, compared to its average volume of 4,519,811. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock’s 50-day moving average is $20.10 and its 200-day moving average is $19.69. The firm has a market cap of $2.57 billion, a PE ratio of -4.73, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $23.08.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp raised its stake in PENN Entertainment by 4.2% in the 3rd quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock valued at $235,000 after purchasing an additional 497 shares during the last quarter. Westside Investment Management Inc. raised its stake in PENN Entertainment by 3.2% in the 4th quarter. Westside Investment Management Inc. now owns 19,849 shares of the company’s stock valued at $393,000 after purchasing an additional 620 shares during the last quarter. XTX Topco Ltd raised its stake in PENN Entertainment by 2.8% in the 3rd quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock valued at $441,000 after purchasing an additional 641 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of PENN Entertainment by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 14,774 shares of the company’s stock valued at $293,000 after acquiring an additional 813 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after acquiring an additional 1,052 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.